Prepare Yourself for Liftoff: Agnico Eagle Mines Limited (AEM)

Agnico Eagle Mines Limited (NYSE: AEM) stock jumped 0.92% on Friday to $42.61 against a previous-day closing price of $42.22. With 3.5 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.1 million shares. During the session, the Gold company that operates in wider Basic Materials sector, reached to the highest price of $42.62 whereas the lowest price it dropped to was $41.37. The 52-week range on AEM shows that it touched its highest point at $67.14 and its lowest point at $38.02 during that stretch. With its current market cap of 17.85 billion, AEM has annualized dividend of $1.60 while the current yield stands at 3.75%. Beta for the stock currently stands at 0.82.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of AEM was up-trending over the past week, with a rise of 7.85%, but this was down by -6.43% over a month. Three-month performance dropped to -26.34% while six-month performance fell -11.03%. The stock lost -33.45% in the past year, while it has lost -19.82% so far this year. A look at the trailing 12-month EPS for AEM yields 1.77 with Next year EPS estimates of 2.23. For the next quarter, that number is 0.54. This implies an EPS growth rate of 5.40% for this year and -4.42% for next year. EPS is expected to grow by 0.39% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 25.80%.

Float and Shares Shorts:

At present, 455.29 million AEM shares are outstanding with a float of 455.16 million shares on hand for trading. On Jul 14, 2022, short shares totaled 7.08 million, which was 1.55% higher than short shares on Jun 14, 2022. In addition to Mr. Sean Boyd C.A., CPA, F.C.A., FCPA as the firm’s Exec. Chairman, Mr. Ammar Al-Joundi M.B.A. serves as its CEO & Non-Independent Director.

Institutional Ownership:

Through their ownership of 64.57% of AEM’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 49.60% of AEM, in contrast to 13.07% held by mutual funds. Shares owned by individuals account for –. As the largest shareholder in AEM with 4.55% of the stake, Van Eck Associates Corp. holds 20,726,131 shares worth 20,726,131. A second-largest stockholder of AEM, GQG Partners LLC, holds 15,571,763 shares, controlling over 3.42% of the firm’s shares. RBC Global Asset Management, Inc. is the third largest shareholder in AEM, holding 13,232,990 shares or 2.90% stake. With a 3.55% stake in AEM, the VanEck Gold Miners ETF is the largest stakeholder. A total of 16,173,941 shares are owned by the mutual fund manager. The Goldman Sachs GQG Partners Intern, which owns about 1.83% of AEM stock, is the second-largest Mutual Fund holder. It holds 8,356,661 shares valued at 382.4 million. Vanguard Total International Stoc holds 1.29% of the stake in AEM, owning 5,897,586 shares worth 269.87 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for AEM since 18 analysts follow the stock currently. There are 13 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 2 believe that the stock is worth HOLDING, 3 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With AEM analysts setting a high price target of $104.72 and a low target of $56.79, the average target price over the next 12 months is $68.71. Based on these targets, AEM could surge 145.76% to reach the target high and rise by 33.28% to reach the target low. Reaching the average price target will result in a growth of 61.25% from current levels.

EPS: Estimates vs Actual

It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. AEM will report FY 2022 earnings on 02/15/2023. Analysts have provided yearly estimates in a range of $3.18 being high and $1.73 being low. For AEM, this leads to a yearly average estimate of $2.35. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Agnico Eagle Mines Limited surprised analysts by $0.16 when it reported $0.76 EPS against a consensus estimate of $0.60. The surprise factor in the prior quarter was $0.22. Based on analyst estimates, the high estimate for the next quarter is $0.94 and the low estimate is $0.35. The average estimate for the next quarter is thus $0.54.

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